A huge question mark hangs over the South Florida real estate market. Is there enough gas left in the tank to complete another round of luxury condominium towers and giant mixed-use complexes?
In the latest issue’s cover story, reporter Sean Stewart-Muniz dives deep into the pressing global challenges, in particular, those that are putting the brakes on the South Florida condominium market. The uncertainties caused by the dollar’s rise, sputtering Latin American economies and a wobbly CMBS market have convinced some major condo developers to postpone or cancel previously announced projects. Check out his article examining the cracks in the condo market.
The tighter money supply has had several trickle-down effects. Developers are seeking alternative financing — to include condo inventory loans — in order to supplement the shrinking pool of capital available for traditional construction loans. Learn about the new creative financing. Some developers and small business owners are turning toward the EB-5 visa program to attract new investors to their projects, as reporter Katherine Kallergis reveals in her illuminating story.
Slower condo construction has also led to falling prices for building owners selling air rights. Finally, some developers have decided that instead of throwing in the towel, they’ll build smaller, ultra-luxury condos, as South Florida Managing Editor Ina Cordle describes in her story, “Boutique is the new black.”
Explore these and other fascinating stories in the autumn issue of our South Florida market report. Enjoy the issue!